Amid the increasing gloom about the state of the nation, whether the subject has been the dismal growth prospects or the likelihood of a credit downgrade, the question that’s often been asked is where is the finance minister?
There is already scepticism about how many of the ideas in the paper will see the light of day. But the more significant point is that it has created a buzz about the thing that matters for the prosperity of the nation. Mboweni’s document is also not overly ambitious, which in itself is welcome and an indication that it was drawn up by realists. None of the pie-in-the-sky stuff such as Ramaphosa’s promise of 3% growth in his first year in office. The focus here is on specific, if overdue, and achievable reforms that the officials think have a potential to add two to three-percentage points to growth and create 1-million jobs.
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